Two exchange-traded funds (ETFs) that track US-listed cryptocurrency futures will reportedly debut on the Hong Kong stock exchange this Friday (December 16). The products will have bitcoin and ether as underlying assets and will become the first futures ETFs listed in Asia. According to a Reuters coverage, the ETFs will track futures listed on the Chicago Mercantile Exchange in the USA.
The products, ticked CSOP Bitcoin Futures ETF and CSOP Ether Futures ETF have raised a combined $73.6 million so far, as the former has accounted for $53.9 million of the amount.
Hong Kong’s Securities and Futures Commission allows the issuance of crypto ETFs, but only if they involve bitcoin or ether futures traded on the CME Group. Hong Kong’s authorities have previously revealed intentions to legalize cryptocurrency retail trading and impose a friendly regulatory framework on the industry in March 2023. Completing those steps could form China’s autonomous special administrative region as one of the global crypto hubs.
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